scholarly journals TECHNICAL EFFICIENCY AND ITS DETERMINANTS IN THE SPANISH CONSTRUCTION SECTOR PRE- AND POST-FINANCIAL CRISIS

2015 ◽  
Vol 19 (1) ◽  
pp. 96-109 ◽  
Author(s):  
Magdalena KAPELKO ◽  
Alfons OUDE LANSINK
Keyword(s):  
Financial Crisis ◽  
Technical Efficiency ◽  
Joint Stock Company ◽  
Construction Sector ◽  
Truncated Regression ◽  
Stock Company ◽  
Construction Firms ◽  
Efficiency Measures ◽  
Before And After ◽  
The Impact

This paper estimates technical efficiency in the Spanish construction sector before and after the start of the current financial crisis, and examines the impact of socio-economic factors on technical efficiency. Bias-corrected efficiency measures are obtained using Data Envelopment Analysis with bootstrap for a sample of medium-sized and large construction firms over the period 2000–2010. Next, bias-corrected efficiency scores are regressed on the variables explaining efficiency using bootstrap truncated regression. The results show that technical efficiency is very low and is significantly lower after the beginning of the financial crisis than before. Firms with the highest technical efficiency scores have the lowest input-ratio for material and employee costs to output and the highest for fixed assets. The examination of the determinants of technical efficiency indicates that efficiency is higher for firms that export, are highly leveraged, are integrated in the form of joint stock company, and are located in Spanish regions with higher GDP per capita, while firms with high stock relatively to turnover have lower technical efficiency. Technical efficiency increases with size for relatively small sized construction firms, but decreases beyond a critical firm size, while technical efficiency decreases with age for young firms, but eventually increases for older firms.

scholarly journals Evaluation of the Quality of Irrigation Machinery by Monitoring Changes in the Coefficients of Uniformity and Non-Uniformity of Irrigation

Agronomy ◽  
2021 ◽  
Vol 11 (8) ◽  
pp. 1499
Author(s):  
Ján Jobbágy ◽  
Peter Dančanin ◽  
Koloman Krištof ◽  
Juraj Maga ◽  
Vlastimil Slaný
Keyword(s):  
Repeated Measurements ◽  
Joint Stock Company ◽  
Stock Company ◽  
Uniformity Coefficient ◽  
Quality Of Work ◽  
Total Length ◽  
Irrigation Uniformity ◽  
Wide Range ◽  
The Impact

Recently, the development of agricultural technology has been focused on achieving higher reliability and quality of work. The aim of the presented paper was to examine the possibilities of evaluating the quality of work of wide-area irrigation machinery by monitoring the coefficients of uniformity and non-uniformity of irrigation. The object of the research was pivot irrigation machinery equipped with sprinklers with a total length from 230 to 540 m. The commonly applied quality of work parameter for wide-range irrigators is the irrigation uniformity coefficient according to Heermann and Hein CUH. Work quality evaluations were also carried out through other parameters applicable in practice, such as irrigation uniformity coefficients calculated according to Christiansen CU, Wilcox and Swailes Cws, and our introduced parameters, the coefficient ar (derived from the degree of unevenness according to Oehler) and the degree of uniformity γr (derived from the degree of non-uniformity according to Voight). Other applied parameters for determining the quality of work of wide-range irrigation machinery were the coefficients of irrigation uniformity according to Hart and Reynolds CUhr, further according to Criddle CUcr and subsequently according to Beale and Howell CUbr. Next, the parameters of the non-uniformity coefficient according to Oehler a, the coefficient of variation according to Stefanelli Cv, the degree of non-uniformity according to Voigt γ and the degree of non-uniformity according to Hofmeister Ef were evaluated. Field tests were performed during the growing season of cultivated crops (potatoes, corn and sugar beet) in the village of Trakovice (agricultural enterprise SLOV-MART, southwest of the Slovakia) and in the district of Piešťany (Agrobiop, joint stock company). During the research, the inlet operating parameters (speed stage, inlet pressure, irrigation dose), technical parameters (number of sprayers, total length, number of chassis) and weather conditions (wind speed and temperature) were recorded. The obtained results were examined by one-way ANOVA analysis depending on the observed coefficient or input conditions and subsequently verified by Tukey and Duncan tests as needed. Irrigation uniformity values ranged from 67.58% (Cws) to 95.88% (CUbh) depending on the input conditions. Irrigation non-uniformity values ranged from 8.58 (a, Ef) to 32.42% (Cv). The results indicate a statistically significant effect of the site of interest and thus the impact of particular field conditions (p < 0.05). When evaluating the application of different coefficients of irrigation uniformity, the results showed a statistically significant effect only in the first test (p = 0.03, p < 0.05). During further repeated measurements, the quality of work increased due to the performed inspection of all sprayers and the reduction in the influence of the wind.

scholarly journals INTELLECTUAL CAPITAL, FINANCIAL CRISIS AND PERFORMANCE OF ISLAMIC BANKS: DOES SHARIAH GOVERNANCE MATTER?

2017 ◽  
Vol 18 (1) ◽  
Author(s):  
Tasawar Nawaz
Keyword(s):  
Financial Crisis ◽  
Intellectual Capital ◽  
Economic Performance ◽  
Islamic Banks ◽  
Knowledge Resources ◽  
Finance Industry ◽  
Before And After ◽  
And Performance ◽  
Shariah Governance ◽  
The Impact

This paper empirically examines the impact of intellectual capital (IC) and Shariah governance on economic performance of 47 Islamic banks (IBs) operating in the Gulf Cooperation Council (GCC) region in pre- and post-financial crisis period. The analysis suggests that higher IC efficiency helps IBs to improve their odds of survival at all times i.e. before- and after-crisis. Further, higher IC efficiency helps IBs to maintain their profitability i.e. ROA and market valuation i.e. Tobin’s Q at all times. Arguably, knowledge-resources i.e. IC is the main line of defence for IBs against negative shocks. Lastly, the study reveals that Shariah governance alone may fall short in explaining the growth trends in Islamic finance industry. Keywords: Intellectual Capital; Shariah Governance; Financial Crisis; Islamic Worldview; Economic Performance.

scholarly journals The impact of functional groups of the surface of carbon materials on the efficiency of purification of extraction phosphoric acid from fluorine compounds

2019 ◽  
Vol 2 ◽  
pp. 11-18
Author(s):  
Smirnov N.N. ◽  
Konoval A.V. ◽  
Smirnova D.N. ◽  
Kochetkov S.P.
Keyword(s):  
Phosphoric Acid ◽  
Functional Groups ◽  
Carbon Materials ◽  
Raw Materials ◽  
Carbon Adsorbents ◽  
Joint Stock Company ◽  
Stock Company ◽  
Fluorine Compounds ◽  
The Impact ◽  
Extraction Phosphoric Acid

The environmental problems of the production of extraction phosphoric acid and the effect of fluorine on the human body are discussed in the article. The creation of the industry of phosphoric fertilizers on the basis of processing of fluorine-containing phosphate raw materials and fluorine-containing compounds, the development of their application require the study of environmental consequences arising from this, because fluorine is characterized by high mobility in the biological cycle of metabolism. For the purification of phosphoric acid from fluorine was used carbon adsorbents such as active charcoal brand BAU, natural graphite deposits Kyshtymsky, P514 soot, charcoal. Experiments on the purification was carried out on non-evaporated half-hydrated extraction phosphoric acid which was produced by joint stock company «Apatit» in Cherepovets city in Russia. The following analyses were carried out: IR-Fourier spectrometry, research of acid–base properties of carbon materials by potentiometric titration, potentiometric method of fluorine determination in extraction phosphoric acid. It is mentioned that the carbon black P514 is the most efficient adsorbent for purification of extraction phosphoric acid. The total number of functional groups on its surface is 0.62 mmol/g, the degree of purification from fluorine compounds is 94.8%.

scholarly journals Impact of Cost Control on Business Efficiency of Small and Medium Sized Enterprises in Thai Binh, Vietnam

2017 ◽  
Vol 4 (2) ◽  
pp. 112
Author(s):  
Ngoc Hung Dang ◽  
Thi Viet Ha Hoang ◽  
Manh Dung Tran
Keyword(s):  
Firm Size ◽  
Cost Control ◽  
Joint Stock Company ◽  
Financial Leverage ◽  
Stock Company ◽  
Return On Assets ◽  
Expense Ratio ◽  
Business Efficiency ◽  
Return On Sales ◽  
The Impact

This study is conducted for investigating the impact of cost control on business efficiency of small and medium-sized enterprises (SMEs) in the area of Thai Binh, Vietnam for the period from 2012 to 2014. Impacting factors were built and verified on business efficiency of SMEs including (i) Cost of goods sold ratio, (ii) Financial expense ratio, (iii) Administration expense ratio, (iv) Firm size, (v) Financial leverage, (vi) Assets structure, and on Pre-tax return on sales ratio and Pre-tax return on assets ratio. The study employed regression models of OLS, FEM, REM and GLS with multi-year dataset of SMEs in Thai Binh province. The results show that the ratios of cost of goods sold, financial leverage, and administration expenses have negative relation with business efficiency, but affecting Return on sales (ROS) and Return on assets (ROA). In addition, financial leverage, assets structure and firm size have small impacts on ROS and ROA. Also, basing on the findings, SMEs operating in the form of joint stock company have higher business efficiency than those operating in the form of limited liability company.

scholarly journals Analysis of the Monitoring Results of Modernized Residential Multi-storey Buildings

2017 ◽  
Vol 9 (4) ◽  
pp. 482-487 ◽  
Author(s):  
Artur Rogoža ◽  
Giedrius Šiupšinskas ◽  
Kęstutis Valančius ◽  
Rūta Mikučionienė
Keyword(s):  
Energy Efficiency ◽  
Technical Efficiency ◽  
Thermal Balance ◽  
Heat Consumption ◽  
Energy Efficiency Measures ◽  
Apartment Buildings ◽  
Efficiency Measures ◽  
Before And After ◽  
Detailed Assessment

The main objective of the monitoring analysed in the article is to evaluate and make recommendations of the actual energy and technical efficiency of the implemented measures of the modernization of multi-apartment buildings. More detailed assessment of energy efficiency measures implemented by modernized buildings, measurements of indoor microclimate and their evaluation is made. Based on the actual heat consumption collected before and after the modernization of buildings, the thermal balance of the building was constructed under the normative conditions. The basics of the methodology, conclusions and recommendations are also presented.

scholarly journals The Ways to Optimize Costs of Enterprise on the Example of PJSC «Ukrainian Railways»

2020 ◽  
Vol 11 (514) ◽  
pp. 282-287
Author(s):  
I. V. Nagorna ◽  
◽  
Y. Y. Halkina ◽  
Keyword(s):  
Economic Activity ◽  
Structural Changes ◽  
Cost Management ◽  
Optimal Level ◽  
Joint Stock Company ◽  
Net Income ◽  
Stock Company ◽  
Composition And Structure ◽  
The Impact

The article is aimed at finding ways to optimize costs at the production subdivision «Operational wagon depot Kupyansk» of the Regional division «Southern Railway» of the Private Joint Stock Company «Ukrainian Railways» on the basis of the performed analysis of the composition and structure of costs, profitability, the impact of the amount of costs on performance indicators, the level of costs per 1 UAH of the consummated services, and operational analysis. The views of scholars on the term «costs» are explored. It is defined that cost management is quite a complex and important process in the course of carrying out economic activity along with determining the quality of further results of enterprise. The main methodological bases of cost management, economic condition of the enterprise are researched. Optimization measures for further development of the enterprise are proposed, which will allow to use its resources more efficiently, to achieve an increase sales and maximize profits. The authors provide recommendations on managing the enterprise costs in order to stimulate the growth of competitiveness. The focus is placed on the mechanism of minimizing the costs of the enterprise in the total amount of net income, because efficient use of costs can not be carried out without structural changes in the sphere of their management. It is identified that cost management is an interconnected complex of works, which forms and influences the behavior of costs during economic activity, as well as is aimed at achieving the optimal level of costs. The proposed measures as to optimizing costs can be used by directors and managers of the enterprise to make informed decisions on the prospective development of the enterprise.

scholarly journals The Impact of Downsizing and Efficiency Measures on Anti-Fraud Resources

2015 ◽  
Author(s):  
Marek Palasinski
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Operational Performance ◽  
Insurance Companies ◽  
Junior Staff ◽  
Efficiency Measures ◽  
The Global Financial Crisis ◽  
The Impact ◽  
Practical Implications

The main purpose of this study was to explore the impact of downsizing and efficiency measures on two key elements of operational performance - fraud detection and fraud reporting. Qualitative data were obtained from ethnographic observations of two major multinational insurance companies, which were already examined before the Global Financial Crisis, and subjected to an inter - and intra - business comparative analysis of anti - fraud resources. The paper points out a big discrepancy in opinions on the downsizing effects between junior staff and their supervisors. Whereas the latter present them as enabling the business to deal with suspicious claims more quickly, the former offer a contrastingly different view in which the constantly growing pressure often lea ds to suspicious claims getting approved. By validating the practical implications of a purposefully adapted version of resource - based theory, the paper illustrates the inviability of subjecting anti - fraud resources to the same levels of downsizing and efficiency as other business resources. Although the literature on the general negative impact of downsizing on the broadly - defined operational performance is growing, this is the first major study to examine its impact on insurance anti - fraud processes and illustrate their changes following the Global Financial Crisis.

scholarly journals A comparative study of efficiency and its determinants in Islamic, conventional, and socially responsible banks

2016 ◽  
Vol 13 (4) ◽  
pp. 470-482 ◽  
Author(s):  
Majed Alharthi
Keyword(s):  
Financial Crisis ◽  
Technical Efficiency ◽  
Returns To Scale ◽  
Scale Efficiency ◽  
Islamic Banks ◽  
Socially Responsible ◽  
Market Capitalization ◽  
Efficiency Measures ◽  
Conventional Banks ◽  
Constant Returns To Scale

This study empirically estimates efficiency and its determinants in 190 Islamic (IBs), conventional (CBs), and socially responsible banks (SRBs) in 22 countries during the period 2005-2012. The study first uses non-parametric approaches to estimate the efficiency measures (scale efficiency (SE), technical efficiency-constant returns to scale (CRS), and technical efficiency-variable returns to scale (VRS)) and second employs ordinary least squares, fixed effects, random effects, and TOBIT models to get the efficiency determinants. The findings indicate that the average efficiency is 0.966, 0.952, and 0.983 for the SE, CRS, and VRS, respectively. However, efficiency measures show that the SRBs are most efficient banks whereas, the least efficiency scores archived by Islamic banks. Islamic bank efficiency is positively correlated with size, loan intensity, ROA, inflation rates, market capitalization and financial crisis. However, conventional banks’ TE and CRS efficiency are positively and significantly correlated with size, ROA, and market capitalization, while their VRS efficiency is negatively and significantly related to capital ratio, age and GDP. In addition, SRBs’ efficiency is increased by size, capital ratio, loan intensity, ROA, foreign ownership, domestic ownership, inflation and financial crisis. Furthermore, the financial crisis affects the SE and CRS efficiency measures in Islamic banks while socially responsible banks SE efficiency measure is positively affected by the financial crisis, which means that socially responsible banks were stabled and resisted during the crisis period. Finally, there is no significant correlation between financial crisis and efficiency indictors in conventional banks during the period

scholarly journals Оценка уровня воздействия техногенных факторов при добыче и производстве гранитного щебня

2021 ◽  
Vol 70 (2) ◽  
pp. 122-124
Author(s):  
О.В. Клепиков ◽  
С.А. Куролап
Keyword(s):  
Residential Development ◽  
Joint Stock Company ◽  
Stock Company ◽  
Industrial Sites ◽  
Sources Of Pollution ◽  
Open Joint Stock Company ◽  
Crushed Granite ◽  
Voronezh Region ◽  
Open Joint ◽  
The Impact

Using the example of Open Joint Stock Company «Pavlovskgranit», located in the Voronezh region, the level of impact of technogenic factors (air pollution and noise) during the extraction and production of crushed granite was estimated. It was established that 61 pollutants enter the atmospheric air from 134 sources of pollution. The main contribution to the total volume of emissions (1881.0 tons/year) is made by inorganic dust with a SiO2 content of 70-20% - 73.4%, sulfur dioxide - 9.8%, carbon monoxide - 114.3 tons/year. Blasting operations in open pits during the extraction of crushed granite are the leading production process that makes a significant contribution to the volume of emissions. At the same time, the remoteness of industrial sites from the territory of residential development, the presence of a sanitary protection zone, allows us to speak about the admissibility of the impact of concentrations of pollutants in the air and the noise factor at the border of the territory of the nearest residential development.

Study of the Impact of Synthetic Fluid on the Lifetime of Hydraulic Pump

2013 ◽  
Vol 801 ◽  
pp. 7-12 ◽  
Author(s):  
Ján Kosiba ◽  
Ľubomír Hujo ◽  
Juraj Tulík ◽  
Milan Rašo
Keyword(s):  
Performance Test ◽  
Slovak Republic ◽  
Flow Characteristics ◽  
Science Research ◽  
Joint Stock Company ◽  
Hydraulic Fluid ◽  
Ministry Of Education ◽  
Hydraulic Pump ◽  
Stock Company ◽  
The Impact

This paper deals with the lifetime test of a tractor hydraulic pump. The basic indicator of hydraulic pump lifetime is flow characteristics. This paper presents the results of the performance test of ecological hydraulic fluid. These results were subjected to statistical analysis. Based on these data, it is possible to express a minimum impact of ecological hydraulic fluid on hydraulic pump lifetime. The test was carried out in cooperation between the Department of Transport and Handling (Slovak University of Agriculture in Nitra) and Slovnaft, a.s. (joint-stock company), and supported by the Scientific Grant Agency of the Ministry of Education, Science, Research and Sport of the Slovak Republic – VEGA, ref. No 1/0857/12.

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